ZAKAT & Direct Tax Lead📣 Job Ad

About the Role

Riyad Bank is seeking a ZAKAT & Direct Tax Lead to manage all Zakat and direct tax matters for the bank. This full-time position is based in Riyadh and requires 5-10 years of relevant experience.

Role Overview

The ZAKAT & Direct Tax Lead will direct, lead, and manage all Zakat and direct tax planning and compliance activities for Riyad Bank. This role ensures effective relationships with the bank's management and relevant third parties, maintaining accurate and compliant tax operations.

Key Responsibilities

• Implement approved departmental policies, processes, and procedures, providing guidance to subordinates and monitoring adherence.
• Oversee the day-to-day operations of the department to ensure compliance with established policies and procedures.
• Support the preparation, review, and monitoring of annual operating and financial budgets for various bank functions.
• Make decisions on complex and technical tax matters, ensuring auditable documentation is maintained.
• Monitor critical details, including timely data collection and analysis, to ensure accurate Zakat and tax calculations and documentation.
• Stay informed of regulatory changes to maintain up-to-date knowledge of tax and Zakat-related legislation.
• Review and manage staff deliverables, including tax returns, extensions, and tax planning calculations.
• Prepare and review complex tax planning projections for estimated tax liabilities of individuals and corporations.
• Conduct complex tax research and prepare memoranda outlining findings and conclusions.
• Communicate and respond to Zakat & Tax authorities and clients regarding audits, inquiries, and tax notices.
• Delegate projects to staff for efficient handling and provide accounting and tax assistance as needed.
• Assist with business development efforts and provide internal tax advisory services and support to senior management.
• Ensure the accuracy of tax figures and estimates within planning, financial reporting, analysis, and financial models.
• Manage external and internal audit requirements, ensuring timely provision of relevant information.
• Organize and supervise the activities of a subordinate team to ensure efficient workflow.
• Contribute to identifying opportunities for continuous improvement of systems, processes, and practices.
• Participate in the implementation of SMART Stream latest versions and upgrades.
• Report Tax & Zakat Compliance requirements within statutory deadlines.
• Ensure all staff have clear objectives, regular performance feedback, and individual development plans.
• Coordinate and facilitate the employment, training, and development of Saudi nationals within the organization.
• Comply with all relevant safety, quality, and environmental management policies, procedures, and controls.
• Perform other related duties or assignments as directed.

Qualifications and Experience

• Bachelor’s degree in Business, preferably with a specialization in Finance or Accounting.
• 6-8 years of relevant experience in banking, including at least 2 years in positions with progressively increasing managerial responsibilities.
• Language proficiency: English (Advanced).